Small-Caps Post Sharp Declines,
But Trading Lacks '87-Like Panic

Even as small-capitalization and Nasdaq stocks plummeted, traders on the Nasdaq Stock Market reported that the 1987-like declines took place in a remarkably un-1987 way.

True, the Russell 2000 and Nasdaq Composite indexes posted their largest one-day point losses ever. The Russell 2000 fell 27.52, or 6.15%, to 420.13, and the Nasdaq composite plunged 115.83, or 7.02%, to 1535.09. Still, the percentages weren't record-busters: The...